Our government and our economy are being mismanaged. The immediate issue we must deal with is that Congress is getting ready to pass legislation which may very well be counterproductive.
Now I am not privy to the day to day statistics on inflows and outflows of money market funds, but what they are attempting to do raises one important question that I would like answered. If they raise the FDIC bank deposit insurance limits, that seems to me an invitation for large investors to conduct a run on brokerage money market funds, i.e., big investors scrambling to move the cash in their money market funds to insured bank deposits.
Sounds to me like another way to bail out the fat cats at the expense of average citizens who are being misled into thinking that their money is safe at their favorite brokerage house. Will some journalist please pose this question to the folks in charge.
www.gpln.com
